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Sunday, June 30, 2013

Oracle Period End Process

Payables:

1. Complete All Transactions for the Period Being Closed 2. Run the Payables Auto Approval Process for All Invoices / Invoice Batches 3. Review & Resolve Amounts to Post to the General Ledger4. Reconcile Payments to Bank Statement Activity for the Period 5. Transfer All Approved Invoices Payments, Reconciled Payments to the General Ledger 6. Review the Payables to General Ledger Posting Process After Completion 7. Submit the Unaccounted Transactions Sweep Program 8. Close the Current Oracle Payables Period 9. Accrue Uninvoiced Receipts 10. Reconcile Oracle Payables Activity for the Period 11. Run Mass Additions Transfer to Oracle Assets 12. Open the Next Payables Period 13. Run Reports for Tax Reporting Purposes (Optional) 14. Run the Key Indicators Report (Optional) 15. Purge Transactions (Optional)

Purchasing:

1. Complete All Transactions for the Period Being Closed 2. Review the Current and Future Commitments (Optional) 3. Review the Outstanding and Overdue Purchase Orders (Optional) 4. Follow up Receipts-Check with Suppliers 5. Identify and Review Un-invoiced Receipts (Period End Accruals) 6. Follow Up Outstanding Invoices 7. Complete the Oracle Payables- Period End Process 8. Run Receipt Accruals - Period End Process 9. Reconcile Accounts - Perpetual Accruals 10. Perform Year End Encumbrance Processing. (Optional) 11. Close the Current Purchasing Period. 12. Open the Next Purchasing Period. 13. Run Standard Period End Reports (Optional)

Inventory/WIP:

1. Complete All Transactions for the Period Being Closed. 2. Check Inventory and Work In Process Transaction Interfaces. 3. Check Oracle Order Management Transaction Process. 4. Review Inventory Transactions. 5. Balance the Perpetual Inventory. 6. Validate Work In Process Inventory. 7. Transfer Summary or Detail Transactions 8. Close the Current Oracle Payables and Oracle Purchasing Periods 9. Close the Current Inventory Period 10. Open the Next Inventory Period 11. Run Standard Period End Reports (Optional)

Order Management:

1. Complete All Transactions for the Period Being Closed 2. Ensure all Interfaces are Completed for the Period (Optional) 3. Review Open Orders and Check the Workflow Status 4. Review Held Orders 5. Review Discounts 6. Review Backorders 7. Review and Correct Order Exceptions 8. Reconcile to Inventory 9. Reconcile to Receivables (Optional)

Projects:

1. Change the Current Oracle Projects Period Status from Open to Pending Close 2. Open the Next Oracle Projects Period 3. Complete All Maintenance Activities 4. Run Maintenance Processes 5. Complete All Transaction Entry for the Period Being Closed 6. Run the Final Cost Distribution Processes 7. Interface Transactions to Other Applications (AP, GL, FA) 8. Generate Draft Revenue for All Projects 9. Generate Invoices 10. Run Final Project Costing and Revenue Management Reports 11. Transfer Invoices to Oracle Receivables 12. Interface Revenue to General ledger (Project Billing Only) 13. Run Period Close Exception and Tieback Reports 14. Change the Current Period Oracle Projects Status from Pending Close to Closed 15. Advance the PA Reporting Period (Optional) 16. Update Project Summary Amounts 17. Restore Access to User Maintenance Activities 18. Permanently Close the Oracle Projects Period (Optional)19. Reconcile Cost Distribution Lines with General Ledger (Optional)